The code for the answer is below. Greg Low is, of course, correct. Fred owns the table, but he owns it by virtue of being the schema owner. Now here's part 2. Do the following:

1. Alter the authorization on Ed's table so that it is owned by Ed.
(Interesting aside, can Ed do this himself?)
2. Create another table (using either Fred or Ed) in the schema.
Call it "fredstuff.table1" (my creativity for making sample names is legendary)
3. Alter the schema so that it's owned by another user (say, dbo)

Who owns each table now? How can you tell?

BTW, why does this matter? Because ownership chains go by object *owners*, not by schemas.

— snip —
create database test
go

use test
go

— make two users
— fred has a default schema, ed does not
create user fred for login fred with default_schema = fredstuff
create user ed for login ed
go